Bank of New York Mellon Corp Buys 154,368 Shares of Washington Prime Group Inc. (WPG)

Bank of New York Mellon Corp lifted its stake in shares of Washington Prime Group Inc. (NYSE:WPG) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,567,381 shares of the real estate investment trust’s stock after acquiring an additional 154,368 shares during the quarter. Bank of New York Mellon Corp owned 3.53% of Washington Prime Group worth $54,707,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN grew its stake in shares of Washington Prime Group by 24.8% during the second quarter. Wells Fargo & Company MN now owns 301,957 shares of the real estate investment trust’s stock worth $2,527,000 after purchasing an additional 59,916 shares in the last quarter. BlackRock Inc. grew its stake in shares of Washington Prime Group by 0.9% during the second quarter. BlackRock Inc. now owns 24,651,964 shares of the real estate investment trust’s stock worth $206,338,000 after purchasing an additional 217,715 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Washington Prime Group by 34.4% during the second quarter. Prudential Financial Inc. now owns 3,020,982 shares of the real estate investment trust’s stock worth $25,285,000 after purchasing an additional 773,931 shares in the last quarter. Kempen Capital Management N.V. grew its stake in shares of Washington Prime Group by 19.3% during the second quarter. Kempen Capital Management N.V. now owns 441,246 shares of the real estate investment trust’s stock worth $3,694,000 after purchasing an additional 71,316 shares in the last quarter. Finally, Private Management Group Inc. acquired a new position in shares of Washington Prime Group during the second quarter worth $9,928,000. 89.87% of the stock is currently owned by institutional investors and hedge funds.

Shares of Washington Prime Group Inc. (WPG) traded down $0.14 during mid-day trading on Friday, hitting $6.97. 3,162,042 shares of the company were exchanged, compared to its average volume of 3,082,165. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $1,294.96, a P/E ratio of 4.17 and a beta of 0.89. Washington Prime Group Inc. has a 12-month low of $6.71 and a 12-month high of $10.97.

Washington Prime Group (NYSE:WPG) last released its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03). Washington Prime Group had a net margin of 21.85% and a return on equity of 16.17%. The company had revenue of $179.32 million during the quarter, compared to analyst estimates of $188.54 million. During the same quarter in the prior year, the company earned $0.46 EPS. The business’s revenue was down 14.6% on a year-over-year basis. equities analysts expect that Washington Prime Group Inc. will post 1.63 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.00 annualized dividend and a yield of 14.35%. Washington Prime Group’s dividend payout ratio is presently 116.28%.

A number of equities analysts recently commented on the stock. Boenning Scattergood reiterated a “sell” rating on shares of Washington Prime Group in a research note on Friday, October 27th. ValuEngine downgraded shares of Washington Prime Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub downgraded shares of Washington Prime Group from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Finally, Zacks Investment Research upgraded shares of Washington Prime Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold”.

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Washington Prime Group Company Profile

Washington Prime Group Inc (WPG Inc), formerly WP Glimcher Inc, operates as a self-administered and self-managed real estate investment trust (REIT). The Company’s primary business is the ownership, development and management of retail real estate within the United States. The Company owns, develops and manages enclosed retail properties and community centers.

Institutional Ownership by Quarter for Washington Prime Group (NYSE:WPG)

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